The quantity equation states that:
A) money times velocity equals nominal GDP.
B) money times velocity equals real GDP.
C) money times the average price level equals nominal GDP.
D) money times the average price level equals real GDP.
Correct Answer:
Verified
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Q90: If real GDP equals 1,500, nominal GDP
Q91: Velocity is determined by:
A)the Federal Reserve.
B)the size
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